Analyzing EUR/USD Support Levels
Updated
As shown in the chart above, EUR/USD has reached our initial target, aligning with the short position suggested by the technical analysis. The price has now landed on the support level established in August of this year, indicating a potential uptrend toward the previous high. The suggested Take Profit (TP) and Stop Loss (SL) offer a profit/loss ratio of 3.03, which is considered favorable.
This is not financial advice.
This is not financial advice.
Note
The price moved upward in line with the signal, achieving 21 pips in profit without experiencing any drawdown at any point. This reflects a strong, favorable market movement from the outset—an excellent result!
Note
The exchange rate went back to entry level, providing second chance for entry. Trade closed: target reached
Target Reached
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